Financial sector regulatory overview

Looking towards 2023 and beyond

by Bozena Gulija

Unpredictable geopolitical dynamics, sanctions regimes, cybersecurity threats, rapidly changing macroeconomic variables and socio-economic sentiment undoubtedly require a particularly agile approach by regulators, financial sector entities, and their clients. This analysis aims to provide insights into new and upcoming regulatory initiatives and developments affecting banking, capital markets, clearing and settlement, payment services, as well as overreaching transversal topics of sustainability and digitalisation. Although global cooperation remains important, regulatory fragmentation follows political delineations, and the EU and UK divergencies are expected to further deepen with the proposed Financial Services and Markets Bill. This overview primarily looks at the horizon from the European frame of reference, but the global perspective and some other jurisdictions are also within the scope.